Ferrari N.V.

What does Ferrari own?
Ferrari N.V. owns Ferrari S.p.A., the Italian operating company that designs, engineers, and manufactures all Ferrari vehicles. The company also owns Scuderia Ferrari, the Formula 1 racing team that is the oldest and most successful team in the history of the championship. Ferrari does not own other automotive brands and operates exclusively under the Ferrari name.

Is Ferrari publicly traded?
Yes, Ferrari N.V. is listed on the New York Stock Exchange under ticker RACE and on Euronext Milan under the same ticker symbol. The company completed its initial public offering on the NYSE in October 2015 at $52 per share. Ferrari operates a dual-class share structure that includes special voting shares available to long-term shareholders, giving the Agnelli family's holding company Exor effective voting control despite holding approximately 36% of share capital.

Who founded Ferrari?
Ferrari was founded by Enzo Ferrari, who was born in Modena, Italy in 1898. Enzo Ferrari began his career as a racing driver for Alfa Romeo and later managed Alfa Romeo's racing program through Scuderia Ferrari, which he founded in 1929. He established the company that would become Ferrari as an automotive manufacturer in 1939 in Maranello, with the first car bearing the Ferrari name competing in 1947. Enzo Ferrari died in August 1988 at the age of 90.

Where is Ferrari headquartered?
Ferrari is headquartered in Maranello, Emilia-Romagna, Italy, where the company has been based since its founding. The Maranello campus houses Ferrari's design studios, engineering departments, wind tunnels, engine manufacturing, and vehicle assembly operations.

Who owns Ferrari?
Ferrari N.V. is publicly listed, with shares held by institutional investors and public shareholders. The Agnelli family controls Ferrari through Exor N.V., their Dutch holding company, which holds approximately 36% of Ferrari's share capital and approximately 52% of voting rights through the company's special voting share structure. Piero Ferrari, the son of founder Enzo Ferrari, holds approximately 10% of share capital and serves as Vice Chairman. John Elkann, CEO of Exor and Executive Chairman of Ferrari, represents the Agnelli family's controlling interest.

What is Ferrari's revenue?
Ferrari reported 2025 full-year net revenues of EUR 7.15 billion, a 7% increase compared to FY2024. EBIT for FY2025 was EUR 2.11 billion, up 12% year over year, and industrial free cash flow grew nearly 50% compared to the prior year. Ferrari's operating margins are among the highest in the global automotive industry, reflecting the company's luxury pricing strategy and deliberate volume limitation.

Enzo Ferrari was born in Modena, Italy in 1898. He began his automotive career as a racing driver for Alfa Romeo in the 1920s and later managed Alfa Romeo's racing team through a subsidiary called Scuderia Ferrari, which he founded in 1929. In 1939, Enzo Ferrari left Alfa Romeo following a dispute over control of the racing program and established Auto Avio Costruzioni in Maranello, initially producing machine tools and aircraft accessories under a non-compete agreement with Alfa Romeo.

The first car to bear the Ferrari name was the 125 S, a 1.5-liter V12 sports racing car that competed in its first race in May 1947. This date is generally regarded as the founding of Ferrari as an automotive manufacturer, though the company's formal corporate history traces to 1939. The 125 S established the V12 engine configuration that would become a defining characteristic of Ferrari's most prestigious models.

Throughout the 1950s, Ferrari built its reputation through motorsport success, winning multiple Formula 1 World Championships and victories at Le Mans and other endurance races. The company's racing success drove demand for its road cars, which were sold primarily to wealthy enthusiasts in Europe and North America.

In 1969, facing financial difficulties, Enzo Ferrari sold a 50% stake in Ferrari to Fiat S.p.A. The agreement gave Fiat control of Ferrari's road car operations while Enzo Ferrari retained control of the racing division. Fiat subsequently increased its stake to 90% while Enzo Ferrari retained 10%.

Enzo Ferrari died in August 1988 at the age of 90. Following his death, Fiat assumed full ownership of Ferrari. Under Fiat's ownership, Ferrari continued to develop iconic models including the F40, F50, Enzo, and LaFerrari, each representing the technological pinnacle of the company's capabilities at the time of their introduction.

In 2014, Fiat Chrysler Automobiles (FCA) announced plans to separate Ferrari from the group. Ferrari N.V. was incorporated in the Netherlands as a holding company, and in October 2015, FCA distributed approximately 80% of Ferrari N.V. shares to FCA shareholders. Ferrari N.V. completed its initial public offering on the New York Stock Exchange in October 2015, listing under ticker RACE at an initial price of $52 per share. A secondary listing on the Milan Stock Exchange followed.

Following the IPO, Exor N.V., the holding company of the Agnelli family, became Ferrari's largest shareholder. Piero Ferrari, the son of Enzo Ferrari, retained a 10% stake in the company, a position he continues to hold as of 2026.

In 2022, Ferrari launched the Purosangue, its first four-door, four-seat vehicle, marking a significant departure from the company's traditional two-seat sports car focus. The Purosangue generated substantial demand and has become one of Ferrari's highest-revenue models.

In October 2025, Ferrari unveiled its first fully battery electric vehicle, the Ferrari Elettrica, at a launch event in Maranello. The Elettrica is scheduled for market delivery in late 2026. CEO Benedetto Vigna stated that the electric Ferrari would deliver performance, driving dynamics, and sound characteristics consistent with the brand's standards, positioning it as a performance vehicle rather than an efficiency-focused alternative.

For FY2025, Ferrari reported net revenues of EUR 7.15 billion, up 7% year over year, with EBIT of EUR 2.11 billion, up 12%, and industrial free cash flow surging nearly 50% compared to the prior year. The company also announced a partnership with IBM as Premium Partner of Scuderia Ferrari, effective January 2025.

Ferrari has established sustainability initiatives focused on environmental responsibility and sustainable luxury manufacturing. The company has committed to carbon reduction targets and has invested in energy-efficient manufacturing processes, renewable energy adoption, and waste reduction programs at its Maranello facilities.

The unveiling of the Ferrari Elettrica in October 2025 represents a major step in Ferrari's electrification strategy. The company is developing hybrid and electric powertrain technologies that maintain Ferrari's performance standards while meeting increasingly stringent emissions regulations. Ferrari has set science-based targets for greenhouse gas emissions reduction and is investing in renewable energy for manufacturing operations.

On corporate governance, Ferrari maintains comprehensive practices covering supply chain ethics, employee relations, and responsible business practices. The company's dual-class share structure, which gives the Agnelli family effective voting control through Exor N.V., has been flagged by some corporate governance advocates as limiting public shareholder influence.

Ferrari has received significant recognition for automotive design excellence, luxury brand leadership, and motorsport achievements:

• Red Dot Design Award 2025: Ferrari received prestigious Red Dot Design Awards for product design excellence, recognizing the company's commitment to automotive innovation and design leadership
• Car Design Awards 2025: Ferrari was honored among the top automotive design award recipients, acknowledging the company's leadership in vehicle design and aesthetic excellence
• Testa Rossa Awards 2025: Ferrari's internal awards program recognized outstanding talent from across the Ferrari dealer network, selecting six winners from over 2,000 employees
• Ferrari Podio 2025: The company's annual supplier recognition event celebrated strategic partners and suppliers who contribute to Ferrari's manufacturing excellence
• Luxury Brand Recognition: Ferrari consistently ranks among the world's most valuable luxury brands
• Motorsport Excellence: Through Scuderia Ferrari, the company receives ongoing recognition for Formula 1 racing achievements and technical innovation

Environmental impact of luxury sports cars: Ferrari faces scrutiny from environmental groups regarding the carbon footprint of high-performance luxury vehicles and the adequacy of its climate action commitments relative to its premium market positioning. The transition to electric vehicles, including the Elettrica unveiled in October 2025, represents Ferrari's response to these concerns, though questions remain about whether electric vehicles can deliver the driving experience Ferrari customers expect.

Dual-class share structure: The Agnelli family's control through Exor N.V. and the special voting share structure has drawn attention from corporate governance advocates who argue it limits public shareholder influence on major corporate decisions. Exor holds approximately 36% of share capital but approximately 52% of voting rights.

Production volume and pricing strategy: Ferrari's deliberate volume limitation and annual price increases have drawn occasional criticism, though the strategy has proven commercially successful. The company's waiting lists and allocation practices, which prioritize existing customers and collectors over new buyers, have generated frustration among some prospective customers.